Supply-Side Economics Is Based on the Idea That Reducing Taxes

question 20

True/False

Supply-side economics is based on the idea that reducing taxes has the effect of benefiting society as a whole.

---

Definitions:

Price Ceiling

A legal maximum price that can be charged for a good or service, aimed at preventing prices from becoming too high.

Rent Control Program

Government policies that limit the amount landlords can charge for rent to make housing more affordable for tenants.

Agricultural Commodities

Products derived from farming or the cultivation of land such as grains, vegetables, fruits, and livestock.

Supply Elasticities

Measures of how responsive the quantity supplied of a good is to a change in its price.